Federal Reserve Chair Janet Yellen promised on Tuesday a steady and consistent course forward, with less money printing but continued low rates.
In her first public remarks since taking over for Ben Bernanke, Yellen sounded optimistic about the economy, including projections about unemployment and inflation.
"The economic recovery gained greater traction in the second half of last year," Yellen said, according to an advanced text of her statement she will present Tuesday to the House Financial Services Committee. She appears before the Senate Banking Committee on Thursday.
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While she pointed out gains the economy has made in reducing unemployment, she said the current 6.6 percent rate is "well above levels" that the Fed finds "consistent with maximum sustainable employment."